Travel insurance - single trip vs annual policy

Victor_Meldrew

I've just been on a travel insurance comparison website and compared single trip vs annual. Using exactly the same data I was quoted £379 for a single trip and £109 for an annual multitrip. This doesn't make any sense to me. I declared depression/anxiety and high cholesterol on both quotes. The trip is 25 days in Thailand.

I compared a single trip from one insurer (Admiral platinum) - the single trip is £653 and the exact same annual multitrip is £141! The cover is the same for both policies.

I mean obviously I'll take the multitrip policy as I travel quite often.

Does anyone know what is going on? It simply doesn't make any sense.

Baldytyke88

Perhaps your bank offers travel insurance? Five years ago, Nationwide provided free holiday insurance.

FlexPlus Account: You can get worldwide family travel insurance by upgrading to a Nationwide FlexPlus packaged current account.Monthly Fee: The FlexPlus account costs £18 a month.

luci

I agree, that doesn't make sense. Which site was it, as I'm always looking for sites for travel insurance.

MyRealNameToo

https://forums.moneysavingexpert.com/discussion/6677683/travel-insurance-single-trip-vs-annual-policy

Single trip is a one time sale and when somewhere declares a location they are definitely travelling to it and so a single quote has to wash its face.

Annual travel insurance has the potential for a renewal so acquisition costs can be spread over the average lifetime of a customer. Many people buy world wide annual cover and never leave Europe, some never leave home as they have the insurance just in case they do go.

Yours is an unusually large difference, especially for the destination, but you are swimming in a different pool, your with everyone who buys world wide annual travel insurance whereas with a single trip they will hone in on those travelling to Thailand. A google suggests insurers have bad experiences with Thailand but wouldnt want to be quoted on that as dont have any industry data to say one way or another

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/82082056#Comment_82082056

I've not done a line-by-line comparison of the conditions nor benefits but the Co-op's packaged bank account deal which includes Worldwide travel cover for you/partner/dependent kids for £12/mth looks like a deal?

https://www.co-operativebank.co.uk/products/bank-accounts/packaged-bank-account/benefits/